KSE sheds 80 points on three-month low volume

Wednesday, June 17, 2009

KARACHI: In the post budget scenario, the Karachi stock market remained under the tight grip of bears on second consecutive day on Tuesday as well where lacklustre behaviour of investors shrank the day turnover to three month low.

The KSE 100-share Index posted another fresh fall of 1.15 per cent or 80.13 points and closed at 6,872.96 points. Its junior partner the 30-Index shed more 1.24 per cent or 91.69 points and ended at 7,280.78 points.

The day turnover fell to 64.4 million shares, which is three months low, according to M Sohail at Topline Securities. Moreover, the day turnover is about 40 per cent less than a day earlier volume of 106.3 million shares.

The future market saw zero trade and the overall market capitalisation dropped by Rs12 billion to stand at Rs2,041 billion.

Interesting, the overseas investors injected a small tranche of $2.15 million at local bourses in this sluggish trading session, according to NCCPL.

Among the notables, the National Bank, United Bank, Bank of Punjab and Attock Refinery managed to close in the positive territory against closing of majority of the actives in red.

Out of total 265 actives on board, losers outnumbered gainers 191 to 60 with 14 stocks closing unchanged.



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